NRI Subsidiary Launches Blockchain Technology Assessment Service

NRI SecureTechnologies, a cybersecurity subsidiary of Japanese information security provider NRI, has announced a new blockchain service.

But what separates this offering, according to the release, is that it is designed specifically for systems that use blockchain technology. More specifically, it will seek to analyze and simulate attacks on smart contracts, or self-executing code that runs on a blockchain.

The firms said in future phases, it will develop the service to be able to assess the overall architecture of a blockchain system, including its API, multi-signature wallets, key management systems and top-level applications.

The need for such an offering can be seen as the broader industry responds to recent heists in the cryptocurrency and blockchain world.

Last year, for example, the infamous hack of DAO resulted in customers losing $60 million worth of ether, at the time through a coding error in the smart contract.

Further, just this week, CoinDash had 34,000 ethers stolen during its initial coin offering, and another hacker drained 150,000 ethers through a security bug in multi-signature wallet software offered by Parity Technologies.

The product launch also follows Japan's decision to regulate bitcoin as a legal payment method, a decision that made it the first country to put in place national rules for the industry.

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.